Morning journal and courier., 1887-03-01
THE LITTLE DERBY.

Reasons
 Vanced i'm Favor of the City Selling
 to the HOusatOnic Valley Company
 Interesting Points Brought Outline
 Competing Lines to be the New York
 and New England and the Consoli-
 dated, if the Derby is Sold.
 A public hearing was held by the finance
 committee last evening to obtain the opinions
 of those who favored or opposed selling the
 city's interest in the Derby road to the Hou- l satonic Valley railroad company. There
 were many prominent citizens, including business men and lawyers, present. The gen. | tlemen who compose the committee on | finance, who heard the opinions on this i'm
 portant subject, were: Mayor York, chair
 man, Councilmen Moran, Barnes and Cess
 ner, Aldermen Dickerman, Connors and
 Hemingway. The hearing was begun short
 ly after o'clock. Morris F. Tyler presented
 the proposition of the Housatonic Valley
 railroad company, which is substantially as follows: That the Housatonic Valley rail | road company, a corporation organized to
 build railroad from point on the Derby
 railroad, in Birmingham, to point on the
 New York and New England near Sandy
 Hook, will pay the oity of New Haven for it's |
 its claim creditors against that company,
 the sum of $175, GOO in cash; that the Housa- tonic Valley will also, as part of this trans
 action, give @ satisfactory guarantee that in
 May, 1888, when the first mortgage bonds of
 the Derby railroad company become due, it
 will pay the $500, 900 of first mortgage bonds | and raise that mortgage, and thus allow the | city's guaranty mortage, which is now second, | to become first mortgage upon all the pres ent and future property of the road; that the Housatonic Valley railroad company will also agree to furnish proper guaranty, in such form as may be best for the city government, that
 the road between Birmingham and Sandy
 Hook, as projected, shall be built
 immediately, and that the road will
 be run as completely in harmony with
 the commercial and financial interests
 of the city of New Haven as it has been in
 the past. Attorney Tyler after stating how
 the case sto od went on to say how it would
 be & great thing for New Haven, as it would
 make New Haven a competing point for cer
 tain territory, which it is not now. It will greatly aid the business facilities of the city. The city has already received much benefit from the Derby, mora than has been laid out on it. The new company, by their extension
  means shortly another route than by the Consolidated into this city. The Derby road has been great hell to us, but it has accom- plished all it ever can alone. This property not only is to-day no direct value to the city, but for long time the business transacted by the road has been dependent on the Starin line of boats The destruction of that line would perhaps cripple the "Little Derby" Saving all it has been able to for the past four years it has really only made $12,OOO, and this shows the average of the business done. It is not nay intention, said MT. Tyler, to call everyone in New Haven who is in favor or whe is interested in this matter, but there are a few well known gentlemen present whom I should desire you to get opinions from.
 Attorneys Tyler and filling were present to represent the interests of the Housatonic Valley railroad. Attorney Tyler presented to the committee ex Superfntend mt William H. Stevenson, who was duly sworn by Mayor
 York. MT. Stevenson after stating that he had been twenty three years 8 railroad man and held different positions during that period of time went on to say that he was a director of all connecting roads by which the new road intended joining. In answer to questions MT. Stevenson stated tha. he repre- scented the gentlemen who made the proposi- ton; that he could vouch for the reliability of their statements and promises, that the benefits to be derived by New Haven would be great, opening up as it would ali the northwestern part of the State and attracting trade to this city. He further said that New Haven to-day, although one of the largest cities of the State, is alone as regards it's competitive freight rates. If this connecting link is built it will immediately open up to New Haven the entire West and the coal fields. It will be of incalculable value to the busi- ness men of the city of New Haven. As the city now stands it is not competing point at all for this section except through the Starin line and the Derby railroad. The req son for this is apparent. The Consolidated road owns or controls everything else that runs into the city. The consequence to New Haven trade in my opinion is that such charges are made on the traffic as it will bear and sometimes more than it can bear. The new road will open an immense new territo- " to New Haven business men. In the mat ! ter of coal it will put New Haven in direct communication with the great coal fields and thus make coal sell at a much less price here than heretofore. Every time coal is handled it costs from 10 to 15 cents ton and is in jured at that but by the new road this hand ling will be done away with. It can be brought to New Haven at the same price as to Elizabethport. The Chicago freights can be landed in New Haven for substantially | the same price as in New York city, and it | will not take as long time in reaching New Haven as now. From railroad point of | view MT. Stevenson thought that nothing | better could happen to the city than the | making of a competing line.
 MT. J. B. Sargent asked MT. Stevenson | why, in his opinion as a railroad man, the | State and Meadow street crossings of the | ''Little Derby" could not be done away with | by arrangements with the Consolidated road, | by which the Derby could come alongside that | roads tracks. MT. Stevenson thought there were reasons. Attorney Tyler then laid a proposition before MT. Sargent. It was that | only bulk freight should be carried over and | past the above named crossings, and that in the night time. MT. Sargent stated that he was present to fight good thing, but wanted to find out whether or no it was good thing. MT. Stevenson then continued and said if he was president or superintendent of the ''Little Derby' he would have had the freight yard of the road removed farther W est, and would have the State and Meadow street crossings used only for bulk freight to Starin's and in the dead of night, and no trains during the day. President Sperry of the "Little Derby' then asked Mr. Stevenson if he was aware that plan for such a change mad been planned by the Derby. He re- oiled that he was not aware of the fact
 Gen. s. E. Merwin was next introduced by | Attorney Tyler as citizen and business man | and 8 freighter of New Haven. Gen. Mer- win thought it was clearly apparent to any l man of the city that if the Derby -oad was extended to connect with the New England it would open up section of the country hitherto shut off from us. It would bring us in direct connection with the She oaug Valley road, the Housatonic road and l also take us wes5 to Danbury. We would hus be enabled to attract the trade of the part of the State It must be ,vident to us all that there are two great sys- ems of railroads being built up in New daven The Consolidated is one which has 4lready matured and the New York and New England is the other. It is simply for New Haven to say whether she shall have compe- ition or shall confine itself to the ConsoIi- lated. We have the opportunity. have no ault to find with the Consolidated, as we nave really only this road as an outlet. These TWO roads the New York and New Erllz Id will build up our city. After looking at the natter thoroughly said Gen. Mer- win cannot see how anyone can be opposed to the proposition. General Merwin then instanced the cheapen- ing of the price of coal as one of the numer- ous advantages to be derived. He said that in conversation with a reputable dealer in that branch of the business he was told that coal was brought to Bridgeport during the recent strikes at S4 80 per ton over the